Auto insurance prices soar in Bahamas due to theft rate

auto insurance stolen vehicle theft

Costs have increased by an estimated 15 to 20 percent because of the number of stolen vehicles. The cost of auto insurance in the Bahamas is an estimated 15 to 20 percent higher than it could be, says a new report, due to the high vehicle theft rate in the country. This problem with stolen vehicles is only compounded by other issues in the Bahamas. An industry executive said that this auto insurance problem is made worse because the processes from the government are “in the Stone Age”. According to…

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